MARKET UPDATE: Sensex shed over 200 points to trade at 56,200 levels, while Nifty50 declined over 40 points to trade below 17,800 levels
Published On: Friday, September 30, 2022 | By: Team KnowMyStock
Opening Bell: Indian equity markets edged lower in today's(30 September 2022) trade ahead of the Reserve Bank of India's (RBI) interest rate stance post their 3-day monetary policy committee meeting. Experts expect the central bank to raise interest rates up to 50 basis points. Key indices Nifty50 declined over 40 points to trade below 17,800 levels and the S&P BSE Sensex shed over 200 points to trade at 56,200 levels. The broader markets, too, lost steam as Nifty MidCap 100 and Nifty SmallCap 100 dropped over 0.1 percent each. Reduced risk appetite coupled with rate hike fears brought volatility across sectoral pockets. Nifty Metal and Nifty Pharma indices held up with marginal gains, whereas Nifty Realty, Nifty Bank, and Nifty Auto indices were beaten down in trade.
While Sun Pharma, ITC, Reliance Industries, Ultratech Cement attempted to trim losses for the benchmark indices; HDFC Twins, Tata Steel, Tech Mahindra, and Infosys weighed the indices down.
Among individual stocks, shares of Adani Green gained over 1 per cent after the company commissioned a wind-solar power plant of 600MW capacity in Rajasthan.Besides, shares of Lupin rallied 3 per cent after it received USFDA's nod to market mirabegron extended-release tablets in the US.
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